Ovivo Awarded an $8 Million Contract to Supply High Specification Water Treatment Equipment for an Offshore Oil Production PlatformMONTREAL, Sept. 22, 2015 - Ovivo Inc. ("Ovivo") has been awarded a major contract to design and supply modular fresh water makers for an offshore oil production platform located in the North Sea. Ovivo's scope of work includes the supply of a filtration plant and a custom engineered fresh potable water maker package, through its heritage brand Caird & Rayner Clark, which is based upon reverse osmosis technology to treat seawater. The contract value is approximately $8 million Canadian and the equipment is scheduled for delivery in December 2016.
"This large contract is the latest of a series of orders booked in the energy market since January, which bodes well for the remaining of the current fiscal year in this key segment," said Marc Barbeau, President and Chief Executive Officer. "Our global platform continues to be a key advantage for us in order to reach our customers across the world and supply our high specification water treatment technologies," added Mr. Barbeau.
Reminder: Ovivo will hold its Annual General Meeting of Shareholders on September 24, 2015
Ovivo invites its shareholders, members of the financial community and the media to its Annual General Meeting of Shareholders on Thursday, September 24, 2015 at 10:30 a.m. (Eastern Daylight Time) at the McCord Museum, Théâtre J. Armand Bombardier, located at 690 Sherbrooke Street West in Montreal.
During the General Meeting, Marc Barbeau, President and Chief Executive Officer, and Pierre-Marc Sarrazin, Director, Corporate Finance and Treasury, will present an overview of the financial results and key highlights for the fiscal year ended March 31, 2015 and for the first quarter of fiscal 2016. They will also discuss Ovivo's strategy and business outlook.
About Ovivo:
Ovivo Inc. is a global company dedicated to water and wastewater treatment. It offers comprehensive technological solutions, as well as services and equipment tailored to specific client needs. Ovivo operates in over 15 countries with more than 800 employees. Ovivo is a public company whose shares trade on the Toronto Stock Exchange under the ticker symbols OVI.A and OVI.B. www.ovivowater.com
Notice regarding forward-looking statements
Certain statements in this press release and other public communications regarding management's objectives, projections, estimates, expectations or forecasts may constitute forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements are recognized by the use of terms such as "forecast," "project," "could," "plan," "aim," "estimate" and other similar terms, possibly used in the future or conditional, particularly with regard to certain assumptions. The management of Ovivo would like to point out that forward looking statements involve a number of uncertainties and known and unknown risks such that the actual and future results of Ovivo could differ considerably from those stated. There can be no assurance as to the materialization of the results, performance or achievements as expressed in or underlying the forward-looking statements. The forward-looking statements included in this press release were made as of the date hereof, and unless required to do so pursuant to applicable securities legislation, management of Ovivo assumes no obligation to update them.
Information about the risk factors to which Ovivo Inc. is exposed is provided under sections entitled "Risks and Uncertainties" in the management's discussion and analysis for the fiscal year ended March 31, 2015, available on SEDAR (www.sedar.com) and Ovivo's website (www.ovivowater.com).
SOURCE Ovivo Inc.
